Swiss National Bank lowered its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 674,473 shares of the company’s stock after selling 9,400 shares during the period. Swiss National Bank’s holdings in Intuit were worth $74,199,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Johnson Financial Group Inc. increased its position in Intuit by 563.9% in the second quarter. Johnson Financial Group Inc. now owns 1,029 shares of the company’s stock valued at $115,000 after buying an additional 874 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock valued at $123,000 after buying an additional 900 shares during the period. Global X Management Co. LLC increased its position in shares of Intuit by 326.8% in the second quarter. Global X Management Co. LLC now owns 1,276 shares of the company’s stock valued at $142,000 after buying an additional 977 shares during the period. Penserra Capital Management LLC increased its position in shares of Intuit by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,379 shares of the company’s stock valued at $151,000 after buying an additional 674 shares during the period. Finally, MSI Financial Services Inc increased its position in shares of Intuit by 1.0% in the third quarter. MSI Financial Services Inc now owns 1,385 shares of the company’s stock valued at $152,000 after buying an additional 14 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Intuit Inc. (NASDAQ:INTU) opened at 116.16 on Wednesday. The stock has a 50 day moving average price of $109.63 and a 200-day moving average price of $109.78. Intuit Inc. has a one year low of $88.17 and a one year high of $116.97. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 31.08 and a beta of 1.08.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 17th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Intuit had a return on equity of 82.77% and a net margin of 20.59%. The firm earned $778 million during the quarter, compared to analysts’ expectations of $754.36 million. During the same period in the previous year, the firm posted $0.09 EPS. Intuit’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post $4.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 18th. Investors of record on Tuesday, January 10th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, January 6th. This represents a $1.36 annualized dividend and a yield of 1.17%. Intuit’s payout ratio is 36.27%.

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Several equities analysts have commented on INTU shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Intuit in a research report on Wednesday, August 24th. Morgan Stanley downgraded Intuit from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $109.54 to $105.00 in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. upped their price objective on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, August 25th. Goldman Sachs Group Inc. upped their price objective on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $114.00 price objective on shares of Intuit in a research report on Thursday, November 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $200.83.

In other Intuit news, EVP Sasan K. Goodarzi sold 18,567 shares of Intuit stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $109.78, for a total transaction of $2,038,285.26. Following the completion of the sale, the executive vice president now directly owns 1,492 shares of the company’s stock, valued at approximately $163,791.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henry Tayloe Stansbury sold 26,189 shares of Intuit stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $115.59, for a total value of $3,027,186.51. Following the sale, the executive vice president now directly owns 26,859 shares of the company’s stock, valued at $3,104,631.81. The disclosure for this sale can be found here. Corporate insiders own 5.70% of the company’s stock.

Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.

5 Day Chart for NASDAQ:INTU

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